Geeze I'd forgotten about those pads, the shop that rebuilt my 30 Chevy motor many years back had those in stock. Joe said, "hey son here's what you'll need for your motor, the Chevrolet KOTEX", as he called them. The pad was soaked in oil for a week then fit over the studs holding valve cover down, seamed to help with noise a bit.
Since the first automobile rolled out of the factory, companies were constantly hawking some kind of gadget.